Third Point Investors Ltd - Results of EGM
PR Newswire
London, December 1
Third Point Investors Limited
(formerly known as Third Point Offshore Investors Limited)
(a closed-ended investment companyincorporated in Guernsey with registration number 47161)
LEI Number: 549300WXTCG65AQ7V644
(The "Company")
1 december 2021
RESULTS OF EXTRAORDINARY GENERAL MEETING
At the Extraordinary General Meeting ("EGM") of the Company held today the Ordinary Resolution 1 and Ordinary Resolution 2 set out in the EGM Notice and Supplementary Notice sent to shareholders on 22 October 2021 and 12 November 2021 were duly passed and defeated respectively.
Details of the proxy voting results which should be read alongside the Notice are noted below:
| Ordinary Resolution | For | Discretion (voted in favour) | Against | Abstain |
| 1 | 11,971,926 | 0 | 6,116,221 | 0 |
| 2 | 9,379,039 | 0 | 30,276,878 | 304,668 |
Note -A vote withheld is not a vote in law and has not been counted in the votes for and against a resolution.
The Board is pleased to announce that the exchange facility resolution was passed today, while the vote to remove Joshua Targoff as a director was defeated.
Fewer than 20% of the shares eligible to vote at today's EGM voted to remove Mr. Targoff. This is consistent with the Board's position, which was further supported by the recommendations of major independent and well-respected proxy advisory firms ISS and Glass Lewis, both of which recommended against Mr. Targoff's removal as it would not be in the best interests of shareholders.
The Board notes the comments made by AVI in their most recent letter dated 11 November:
"Contrary to the Board's assertions, we have no interest in prolonging this dispute. If our proposal were not backed by a majority of independent Shareholders, we would quite happily move on."
The Board has heard from many shareholders who are understandably displeased with the counter-productive time and attention spent on matters related to AVI and its requisitions. It is also aware that there are potential new shareholders who have expressed hesitance in purchasing shares whilst this distracting drama continues. Given the result of the vote announced at the EGM held today, the Board expects that AVI will now cease in its attempts to impose its self-serving agenda, so that the Board will be able to focus its full efforts on promoting the attractive value-proposition of the Company to current and potential shareholders.
- Ends -
Press Enquiries
| Third Point | Buchanan PR |
| Elissa Doyle, Chief Communications Officer and Head of ESG Engagement edoyle@thirdpoint.com Tel: +1 212-715-4907 | Charles Ryland charlesr@buchanan.uk.com Tel: +44 (0)20 7466 5107 Henry Wilson henryw@buchanan.uk.com Tel: +44 (0)20 7466 5111 |
Notes to Editors
About Third Point Investors Limited
www.thirdpointlimited.com
Third Point Investors Limited (LSE: TPOU) was listed on the London Stock Exchange in 2007 and is a feeder fund that invests in the Third Point Offshore Fund (the Master Fund), offering investors a unique opportunity to gain direct exposure to founder Daniel S. Loeb's investment strategy. The Master Fund employs an event-driven, opportunistic strategy to invest globally across the capital structure and in diversified asset classes to optimize risk-reward through a market cycle. TPIL's portfolio is 100% aligned with the Master Fund, which is Third Point's largest hedge fund. TPIL's assets under management are currently $1.2 billion.
About Third Point LLC
Third Point LLC is an institutional investment manager that actively engages with companies across their lifecycle, using dynamic asset allocation and an ethos of continuous learning to drive long-term shareholder return. Led by Daniel S. Loeb since its inception in 1995, the Firm has a 37-person investment team, a robust quantitative data and analytics team, and a deep, tenured business team. Third Point manages approximately $20.4 billion in assets for sovereign wealth funds, endowments, foundations, corporate & public pensions, high-net-worth individuals, and employees.
Company Website: www.thirdpointlimited.com
Northern Trust International Fund Administration Services (Guernsey) Limited
The Company Secretary
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745001
